Creative Planning Has $936,000 Position in Etsy, Inc. (NASDAQ:ETSY)

Creative Planning lessened its position in shares of Etsy, Inc. (NASDAQ:ETSY) by 18.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,877 shares of the specialty retailer’s stock after selling 3,630 shares during the quarter. Creative Planning’s holdings in Etsy were worth $936,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the company. Marshall Wace LLP increased its holdings in Etsy by 304.2% in the 2nd quarter. Marshall Wace LLP now owns 1,402,216 shares of the specialty retailer’s stock valued at $82,703,000 after buying an additional 1,055,296 shares during the period. Renaissance Technologies LLC raised its position in Etsy by 21.1% in the second quarter. Renaissance Technologies LLC now owns 4,215,370 shares of the specialty retailer’s stock worth $248,623,000 after purchasing an additional 734,200 shares in the last quarter. Van ECK Associates Corp lifted its stake in Etsy by 14.3% during the second quarter. Van ECK Associates Corp now owns 5,764,064 shares of the specialty retailer’s stock worth $339,964,000 after purchasing an additional 721,454 shares during the period. Pacer Advisors Inc. boosted its holdings in Etsy by 52.3% during the second quarter. Pacer Advisors Inc. now owns 2,100,284 shares of the specialty retailer’s stock valued at $123,875,000 after purchasing an additional 721,453 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Etsy by 76.2% in the 2nd quarter. AQR Capital Management LLC now owns 1,196,932 shares of the specialty retailer’s stock worth $69,685,000 after buying an additional 517,480 shares in the last quarter. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ETSY. Piper Sandler reiterated a “neutral” rating and issued a $56.00 price target on shares of Etsy in a research report on Friday, August 23rd. Stifel Nicolaus reduced their price target on shares of Etsy from $65.00 to $64.00 and set a “hold” rating on the stock in a research report on Thursday, August 1st. Truist Financial reaffirmed a “buy” rating and set a $76.00 price objective on shares of Etsy in a report on Tuesday, September 24th. Cantor Fitzgerald reissued a “neutral” rating and issued a $50.00 target price on shares of Etsy in a report on Monday. Finally, Oppenheimer cut Etsy from an “outperform” rating to a “market perform” rating in a report on Thursday, August 1st. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Etsy presently has an average rating of “Hold” and an average target price of $71.14.

Insider Activity at Etsy

In other news, insider Nicholas Daniel sold 750 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $59.74, for a total value of $44,805.00. Following the sale, the insider now owns 18,833 shares of the company’s stock, valued at $1,125,083.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Etsy news, insider Nicholas Daniel sold 750 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $59.74, for a total transaction of $44,805.00. Following the transaction, the insider now owns 18,833 shares of the company’s stock, valued at $1,125,083.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Merilee Buckley sold 1,676 shares of the stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total value of $85,660.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,619 shares of company stock valued at $300,670. 2.60% of the stock is owned by insiders.

Etsy Stock Down 2.2 %

Etsy stock opened at $49.65 on Friday. The company has a 50 day moving average of $53.98 and a 200-day moving average of $60.00. Etsy, Inc. has a twelve month low of $49.56 and a twelve month high of $89.58. The stock has a market capitalization of $5.81 billion, a PE ratio of 22.67, a price-to-earnings-growth ratio of 5.39 and a beta of 1.97.

Etsy (NASDAQ:ETSY) last announced its earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). Etsy had a negative return on equity of 51.94% and a net margin of 10.36%. The company had revenue of $647.80 million during the quarter, compared to analyst estimates of $629.87 million. During the same period in the previous year, the company posted $0.83 earnings per share. Etsy’s revenue for the quarter was up 3.0% on a year-over-year basis. Equities analysts anticipate that Etsy, Inc. will post 2.38 EPS for the current fiscal year.

Etsy Company Profile

Etsy, Inc, together with its subsidiaries, operates two-sided online marketplaces that connect buyers and sellers in the United States, the United Kingdom, Germany, Canada, Australia, and France. Its primary marketplace is Etsy.com that connects artisans and entrepreneurs with various consumers. The company also offers Reverb, a musical instrument marketplace; Depop, a fashion resale marketplace; and Elo7, a Brazil-based marketplace for handmade and unique items.